Italian utility company, which has made its entry into fiber optic broadband, Enel has tabled a formal offer to buy fiber optic company Metroweb, two sources close to the matter said on Thursday. Reuters News reports the latest movement by Enel, that will have implications in the Italian telecommunication market.
Here is the news from Reuters;
Enel’s offer is part of its plan to roll out a high-speed Internet network – a key plank of Prime Minister Matteo Renzi’s reformist agenda.
“Enel has presented the offer to Metroweb shareholders,” one of the sources said.
Metroweb is controlled by state lender Cassa Depositi e Prestiti (CDP), through its CDP Equity division, and infrastructure fund F2i.
Enel and F2i declined to comment while CDP was not immediately available for a comment.
Last week a source said Italian phone incumbent Telecom Italia had made a formal all-cash offer valuing Metroweb at 820 million euros